| BALANCE SHEET - PWHOA (03/31/04) |
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| ASSETS: |
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| Operating Assets - General |
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| Checking-Bank Atlantic |
4,871.89 |
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| Savings - Bank Atlantic |
63,280.10 |
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| Checking - Union Bank |
144,678.42 |
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| Money Market - SouthTrust |
3,633.56 |
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| Total Operating Assets - General |
216,463.97 |
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| Operating Assets - Cable |
|||||||||||
| Cable Account - Washington Mutual |
39,088.97 |
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| Cable Account - Regent Bank |
3,703.56 |
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| Total Operating Assets - Cable |
42,792.53 |
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| Other Assets |
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| Accounts Receivable |
17,976.00 |
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| Bulk Cable Receivables |
2,080.25 |
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| Prepaid Insurance |
7,298.67 |
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| Total Other Assets |
27,354.92 |
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| TOTAL ASSETS |
$286,611.42 |
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| LIABILITIES & EQUITY: |
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| Operating Liabilities |
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| Accounts Payable |
1,904.60 |
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| Prepaid Assessments |
421.71 |
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| Prepaid Cable Assessment |
467.99 |
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| Deferred Revenue |
209,999.97 |
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| Deferred Cable Income |
45,893.72 |
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| Total Operating Liabilities |
258,687.99 |
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| Members Equity |
|||||||||||
| Members Equity |
37,532.41 |
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| Current Year Earnings |
-9,608.98 |
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| Total Members Equity |
27,923.43 |
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| TOTAL LIABILITIES & EQUITY |
$286,611.42 |
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| HOMEOWNERS EQUITY: |
|||||||||||
| Total Members Equity |
27,923.43 |
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| Less Cable Adjustment |
-1,488.93 |
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| TOTAL HOMEOWNERS EQUITY |
$29,412.36 |
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| BUDGET COMPARISON - PWHOA (03/31/04) |
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| MTD |
MTD |
YTD |
YTD |
Annual |
||||||
| Actual |
Budget |
Actual |
Budget |
Budget |
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| INCOME: |
||||||||||
| Homeowner Assessment |
23,333.33 |
23,333.33 |
70,000.03 |
70,000.00 |
280,000.00 |
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| Interest Income |
34.89 |
166.67 |
107.16 |
500.00 |
2,000.00 |
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| Bulk Cable Assessment |
15,297.92 |
16,018.75 |
45,893.76 |
48,056.25 |
192,225.00 |
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| HO Dock Ins. Premium |
0.00 |
45.83 |
0.00 |
137.50 |
550.00 |
|||||
| Newsletter Advertising |
150.00 |
320.83 |
1,254.00 |
962.50 |
3,850.00 |
|||||
| Golf Tournament Income |
0.00 |
625.00 |
0.00 |
1,875.00 |
7,500.00 |
|||||
| Miscellaneous Income |
2,540.00 |
0.00 |
2,540.00 |
0.00 |
0.00 |
|||||
| TOTAL INCOME |
41,356.14 |
40,510.42 |
119,794.95 |
121,531.25 |
486,125.00 |
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| EXPENSES: |
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| Maintenance & Common Area Expense: |
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| Irrigation Maint/Upgrade |
800.44 |
833.33 |
2,737.19 |
2,500.00 |
10,000.00 |
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| Landscape Replacements |
6,587.00 |
550.00 |
13,174.00 |
1,650.00 |
6,600.00 |
|||||
| Lawn/Landscaping/Tree Trim |
4,000.00 |
4,250.00 |
11,659.00 |
12,750.00 |
51,000.00 |
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| Lake & Dock Maintenance |
150.00 |
150.00 |
450.00 |
450.00 |
1,800.00 |
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| Playground Maintenance |
100.00 |
375.00 |
300.00 |
1,125.00 |
4,500.00 |
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| Pressure Cleaning |
0.00 |
166.67 |
2,750.00 |
500.00 |
2,000.00 |
|||||
| Security |
9,523.00 |
8,250.00 |
24,818.63 |
24,750.00 |
99,000.00 |
|||||
| Miscellaneous General Maintenance |
0.00 |
100.00 |
410.58 |
300.00 |
1,200.00 |
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| Street Signs |
173.72 |
250.00 |
388.66 |
750.00 |
3,000.00 |
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| Improvements - Golf Proceeds |
0.00 |
375.00 |
0.00 |
1,125.00 |
4,500.00 |
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| Cable TV |
15,443.16 |
16,018.75 |
46,329.48 |
48,056.25 |
192,225.00 |
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| Utilities - Electric |
2,155.19 |
2,250.00 |
5,559.38 |
6,750.00 |
27,000.00 |
|||||
| Total Maint. & Com. Area Expense |
38,932.51 |
33,568.75 |
108,576.92 |
100,706.25 |
402,825.00 |
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| Administrative Expense: |
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| Accounting Fees |
0.00 |
125.00 |
0.00 |
375.00 |
1,500.00 |
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| Insurance |
1,626.26 |
1,700.00 |
4,878.78 |
5,100.00 |
20,400.00 |
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| Legal |
1,530.01 |
666.67 |
4,598.65 |
2,000.00 |
8,000.00 |
|||||
| Office Supplies |
428.00 |
500.00 |
599.25 |
1,500.00 |
6,000.00 |
|||||
| Postage/Other |
524.87 |
300.00 |
635.82 |
900.00 |
3,600.00 |
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| Holiday Lights |
0.00 |
8.33 |
24.37 |
25.00 |
100.00 |
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| Meeting Room Fees |
80.00 |
8.33 |
80.00 |
25.00 |
100.00 |
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| Newsletter Printing Expense |
466.77 |
400.00 |
1,203.89 |
1,200.00 |
4,800.00 |
|||||
| Management Fees |
2,900.00 |
2,900.00 |
8,700.00 |
8,700.00 |
34,800.00 |
|||||
| Golf Tournament Expenses |
0.00 |
250.00 |
0.00 |
750.00 |
3,000.00 |
|||||
| Website Management Fees |
45.00 |
75.00 |
45.00 |
225.00 |
900.00 |
|||||
| Taxes-Licenses-Permits |
0.00 |
8.33 |
61.25 |
25.00 |
100.00 |
|||||
| Total Administrative Expense |
7,600.91 |
6,941.67 |
20,827.01 |
20,825.00 |
83,300.00 |
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| TOTAL EXPENSE |
46,533.42 |
40,510.42 |
129,403.93 |
121,531.25 |
486,125.00 |
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| NET INCOME/(LOSS) |
-5,177.28 |
0.00 |
-9,608.98 |
0.00 |
0.00 |
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